Select residents in Massachusetts will receive a one-time tax refund set at 14% of their state personal income tax liability by the middle of next month.
The one-time tax refund is possible because of the $2.94 billion in excess of the state cap on revenue the state amassed, with the exact amount a person receives varying based on tax status.
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To be eligible for the one-time refund, residents must have filed their 2021 tax return. Those who have not filed their 2021 taxes have until Sept. 15, 2023, and should receive their payments a few weeks after filing.
For Massachusetts residents who have filed their taxes, they should receive their payment by the middle of December. Payments have already been delivered to hundreds of thousands of residents, according to CBS Boston.
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The state’s Chapter 62F cap on revenue triggered the tax refund, with a law that has only been triggered one other time since 1986. To figure out how much the payment will come out to, eligible residents can check the state’s website.
